Zacks Investment Research cut shares of Mercury Systems Inc (NASDAQ:MRCY) from a hold rating to a sell rating in a research report sent to investors on Thursday.
According to Zacks, “Mercury Systems, Inc. is a commercial provider of secure sensor and mission processing subsystems for defense and intelligence programs. The Company’s products and solutions are deployed in more than 300 programs with over 25 different defense prime contractors. “
Other equities analysts have also issued reports about the stock. Noble Financial reissued a hold rating on shares of Mercury Systems in a research report on Thursday, August 3rd. Jefferies Group LLC reissued a hold rating and set a $45.00 price target on shares of Mercury Systems in a research report on Wednesday, August 2nd. Finally, BidaskClub raised shares of Mercury Systems from a buy rating to a strong-buy rating in a research report on Saturday, June 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $43.00.
Shares of Mercury Systems (NASDAQ MRCY) traded down 0.38% during mid-day trading on Thursday, reaching $47.03. 592,255 shares of the company traded hands. The firm has a 50-day moving average price of $46.41 and a 200 day moving average price of $41.52. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 81.09 and a beta of 0.42. Mercury Systems has a 52 week low of $22.31 and a 52 week high of $49.24.
Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.08. Mercury Systems had a net margin of 6.09% and a return on equity of 4.87%. The company had revenue of $115.60 million during the quarter, compared to analyst estimates of $115.11 million. During the same period last year, the firm posted $0.23 EPS. Mercury Systems’s revenue for the quarter was up 35.3% compared to the same quarter last year. On average, analysts anticipate that Mercury Systems will post $1.24 earnings per share for the current year.
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In other news, VP Charles A. Speicher sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $44.09, for a total transaction of $308,630.00. Following the sale, the vice president now owns 36,983 shares of the company’s stock, valued at approximately $1,630,580.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Aslett sold 4,800 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $47.42, for a total transaction of $227,616.00. Following the sale, the chief executive officer now directly owns 519,382 shares in the company, valued at approximately $24,629,094.44. The disclosure for this sale can be found here. Insiders have sold a total of 21,400 shares of company stock worth $990,518 in the last ninety days. Corporate insiders own 3.50% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Arizona State Retirement System grew its stake in shares of Mercury Systems by 0.4% during the 2nd quarter. Arizona State Retirement System now owns 25,075 shares of the technology company’s stock worth $1,055,000 after purchasing an additional 100 shares during the period. Loomis Sayles & Co. L P acquired a new stake in shares of Mercury Systems during the 1st quarter worth approximately $16,342,000. Texas Permanent School Fund grew its stake in shares of Mercury Systems by 16.0% during the 1st quarter. Texas Permanent School Fund now owns 34,712 shares of the technology company’s stock worth $1,356,000 after purchasing an additional 4,797 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of Mercury Systems by 21.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 194,791 shares of the technology company’s stock worth $7,607,000 after purchasing an additional 34,105 shares during the period. Finally, FMR LLC grew its stake in shares of Mercury Systems by 116.3% during the 1st quarter. FMR LLC now owns 351,093 shares of the technology company’s stock worth $13,710,000 after purchasing an additional 188,800 shares during the period. 96.67% of the stock is currently owned by institutional investors and hedge funds.
Mercury Systems Company Profile
Mercury Systems, Inc is a commercial provider of secure processing subsystems designed and made in the United States. The Company’s solutions support a range of defense and intelligence programs. Its technologies include embedded processing modules and subsystems, radio frequency (RF) and microwave multi-function assemblies, as well as subsystems, and RF and microwave components.
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